Math, asked by funcafe09, 10 days ago

calculate compound interest for 24800 for 2 years at the rate of 8%​

Answers

Answered by sk3895737
1

Answer:

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Answered by anitayadav3613729
0

Answer ⤵️

Calculate compound interest for 24800 for 2 years at the rate of 8%.

=> Principal (P)= 24800

=> Rate(R)= 8%

=> Time(T)= 2 years

Principal for the first year= 24800

Interest for the first year= 24800×8×1/100

Amount after one year= 24800+1984= 26784

Principal for the second year= 26784

Interest for the second year= 26784×8×1/100

Interest for the second year= 214272/100

Interest for the second year= 2142.72

Amount after 2 years= ₹ 26784+2142.72= 28926.72

Compound Interest for 2 years = final amount - (original) principal

= ₹ 28926.72-24800

= 4126.72

Step-by-step explanation:

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